Title
Approving a professional services supplemental agreement with CP&Y, Inc., dba STV Infrastructure, in the amount of $249,811 to provide funding support services, and authorizing the City Manager to execute the same.
Summary
On January 10, 2023, Council approved a Master Services Agreement with CP&Y, Inc., dba STV Infrastructure (STV) to provide funding support services to explore funding opportunities for the City’s water and wastewater CIP projects. As part of this effort, the Environmental Protection Agency’s (EPA) Water Infrastructure Finance and Innovation Act (WIFIA) program was identified as a recommended funding opportunity. A WIFIA funding application was submitted to the EPA in November 2023, which includes funding for up to seven (7) water and wastewater projects in the first tranche, with the opportunity for funding of an additional twenty-one (21) projects in future tranche(s). This funding request was approved by EPA and is anticipated to close in June 2024.
STV’s proposed scope of services includes services to assist the City in management of the funding requirements for the first tranche of funded projects and determination of the requirements and next steps for funding tranche(s) for additional projects in the future.
This project supports the fiscal sustainability and robust, resilient infrastructure goals of the City’s Strategic Plan.
Prior City Council Action
Approval of a Master Services Agreement with CP&Y, Inc. in the amount of $123,555 for Financial Support Services on January 10, 2023.
Deadline for City Council Action
Action is requested on May 28, 2024.
Funding Expected: Revenue __ Expenditure _X_ N/A __
Budgeted Item: Yes X No __ N/A __
Amount: $249,811
1295 Form Required? Yes _X_ No __
Legal Review Required: N/A __ Required _X_ Date Completed: 5/15/2024
Supporting documents attached:
Professional Services Supplemental Agreement No. 1_WIFIA Funding Support
Recommended Action
Approve a professional services supplemental agreement with CP&Y, Inc., dba STV Infrastructure to provide funding support service.